Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day. (b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day. (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment). (d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 4 contracts
Samples: Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.), Credit Agreement
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect Margin; provided that each Fronted Foreign Currency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such day.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, % and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 3 contracts
Samples: Credit Agreement (Wolverine World Wide Inc /De/), Credit Agreement (Wolverine World Wide Inc /De/), Credit Agreement (Wolverine World Wide Inc /De/)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in above the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) Date and on the same Business Day if demand is made by date of payment in full of the Administrative Agent respective Loans and in the case of the Revolving Credit Loans on or prior to 11:00 a.m., New York City time and (ii) on date of termination of the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeRevolving Credit Commitments.
Appears in 3 contracts
Samples: Credit Agreement (CSK Auto Corp), Credit Agreement (CSK Auto Corp), Credit Agreement (CSK Auto Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) Each Canadian Term Loan shall bear interest at a rate per annum equal to the Canadian Dollar Prime Rate plus the Applicable Margin.
(d) If all or a portion of the (i) any principal amount of any Loan Loan, (ii) any interest payable thereon, (iii) any commitment fee or (iv) any Reimbursement Obligation or Acceptance Reimbursement Obligation or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans, the Reimbursement Obligations or Acceptance Reimbursement Obligation and any such overdue interest, commitment fee or other amount (to the extent legally permitted) shall bear interest at a rate per annum that which is equal to (xw) in the case of the Loansprincipal, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section subsection plus 2% or or, if higher, (yx) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (iiy) if all or a portion in the case of any interest payable on any Loan or Acceptance Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityObligations, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Revolving Credit Loans under the relevant Facility that are LIBOR Loans plus 2% or (or, z) in the case of any such overdue interest, commitment fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under described in paragraph (b) of this subsection (paragraph (c) in the Revolving Credit Facility case of interest on Canadian Term Loans) plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, commitment fee or other amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 6.6 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 3 contracts
Samples: Credit Agreement (Laidlaw Environmental Services Inc), Credit Agreement (Laidlaw Environmental Services Inc), Credit Agreement (Laidlaw Environmental Services Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate for such Eurocurrency Loan determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan (including Dollar Swing Line Loans and Multicurrency Swing Line Loans denominated in United States Dollars) shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin Margin. Each Prime Rate Loan (including Multicurrency Swing Line Loans denominated in effect for such dayCanadian Dollars) shall bear interest at a rate per annum equal to the Prime Rate plus the Applicable Margin.
(ic) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (xi) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or 2.00%, (yii) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under or (with respect to Reimbursement Obligations in respect of Letters of Credit denominated in Canadian Dollars) Prime Rate Loans in respect of the Revolving Credit applicable Facility plus 22.00%, and (iiiii) if all or a portion in the case of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityhereunder, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% or (or, with respect to interest payable on any Loan denominated in the case Canadian Dollars or on any Reimbursement Obligations in respect of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Letters of Credit denominated in Canadian Dollars) Prime Rate Loans under the Revolving Credit applicable Working Capital Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount not paid when due is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that Date or on the applicable date with respect to interest accruing payable pursuant to paragraph (cSection 4.2(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeabove.
Appears in 3 contracts
Samples: Credit Agreement (Sprague Resources LP), Credit Agreement (Sprague Resources LP), Credit Agreement
Interest Rates and Payment Dates. (a) Each Eurodollar LIBO Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBO Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall automatically bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or Obligation, any principal amount of Reimbursement Obligation, any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, at the request of the Administrative Agent or Required Lenders, bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Facility plus 2% and in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable by the Borrower in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 3 contracts
Samples: Credit Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc), Credit Agreement (Allison Transmission Holdings Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) after giving effect to any applicable grace period specified in paragraph (a) of Section 8, such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Advent Software Inc /De/), Credit Agreement (Advent Software Inc /De/)
Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Subject to Section 2.13(c), each ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate ABR in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 22.00% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 22.00%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 22.00% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Verint Systems Inc), Credit Agreement (Verint Systems Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate ABR Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base Rate in effect ABR for such day plus the Applicable Margin in effect for such day. Each Swing Line Foreign Currency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Swing Line Foreign Currency Rate for such day plus 1.50% per annum plus the Applicable Margin in effect for such day for Eurocurrency Loans that are Revolving Credit Loans.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee, letter of credit commission, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this subsection plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to Base Rate principal of the related Loan pursuant to the relevant foregoing provisions of this subsection (other than clause (x) above) plus 2.00% and (z) in the case of, fees, commissions or other amounts, the rate described in paragraph (b) of this subsection for ABR Loans under the that are Revolving Credit Facility Loans plus 22.00%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section subsection shall be payable from time to time on demand demand.
(ie) on It is the same Business Day if demand intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is made stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made maximum amount of interest allowed by the Administrative Agent after 11:00 a.m., New York City timeapplicable usury laws.
Appears in 2 contracts
Samples: Credit Agreement (VWR International, Inc.), Credit Agreement (Sirva Inc)
Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3.
(b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate.
(c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(id) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityii) any interest payable thereon, by acceleration any fee or otherwise), such overdue any other amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto payable pursuant to the foregoing provisions terms of this Section plus 2% or Agreement (yother than attorneys' fees incurred in connection with the enforcement of the terms hereof) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, the Termination Date and upon any prepayment of such Loan, provided that interest accruing pursuant to paragraph (cd) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: 5 Year Credit Agreement (Cit Group Inc), Credit Agreement (Cit Group Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement ObligationsObligations under the Revolving Facility or the Tranche A LC Facility, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility or the Tranche A LC Facility, respectively, plus 2%, % and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee, Letter of Credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Rent a Center Inc De), Credit Agreement (Rent a Center Inc De)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest on the outstanding principal amount thereof for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest on the outstanding principal amount thereof for each day on which it is outstanding a Base Rate Loan from the applicable borrowing date at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and (to the extent legally permittedwithout limiting Section 3.11) all Reimbursement Obligations shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 4.5(a) or (b), as applicable, plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% per annum (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date; provided, provided that interest accruing pursuant to paragraph (c) of this Section 4.5 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Innophos Investment Holdings, Inc.), Credit Agreement (Innophos, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for Term SOFR applicable to such day Term SOFR Loan plus the Applicable Margin with respect to Term SOFR Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) Each Term SOFR Daily Floating Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Term SOFR Daily Floating Rate in effect for such day plus the Applicable Margin with respect to Term SOFR Daily Floating Rate Loans in effect for such day.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Northwestern Corp), Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted LIBO Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Subject to Section 2.13(c), each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Refinancing Amendment and Joinder Agreement (Verint Systems Inc), Credit Agreement (Verint Systems Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for such Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest Except as otherwise expressly provided for in this subsection 4.5 or subsection 4.4(b), interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 2 contracts
Samples: Second Lien Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.), Second Lien Credit Agreement (Stratus Technologies Bermuda Holdings Ltd.)
Interest Rates and Payment Dates. (a) Each Eurodollar Daily Simple SOFR Rate Loan under each Facility shall bear interest for each day with respect thereto at a rate per annum equal to (i) the Adjusted Daily Simple SOFR Rate as determined for such day plus (ii) the Applicable Margin for such Facility.
(b) Each Term SOFR Rate Loan under the Revolving Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar (i) Adjusted Term SOFR Rate as determined for such day plus (ii) the Applicable Margin in effect for such dayFacility.
(bc) Each Immediately after written demand by the Administrative Agent (or by the Required Lenders to the Administrative Agent) after the occurrence and during the continuance of any Event of Default, any Daily Simple SOFR Rate Loans and Term SOFR Rate Loans will convert to Base Rate Loan shall bear interest for each day on which it is Loans. During the continuance of an Event of Default, all outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due Loans (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permittednot overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if . If all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder (other than any amount to which the preceding sentence is applicable) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Daily Simple SOFR Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Bungeltd), Credit Agreement (Bungeltd)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: First Lien Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Six Flags Entertainment Corp), Credit Agreement (Six Flags Entertainment Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 2 contracts
Samples: Credit Agreement (National CineMedia, Inc.), Credit Agreement (National CineMedia, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan (other than a Revolving Credit Loan made to the Canadian Borrower denominated in Dollars) shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day and each Base Rate Loan which is a Revolving Credit Loan made to the Canadian Borrower denominated in Dollars shall bear interest for each day on which it is outstanding at a rate per annum equal to the US Base Rate in Canada in effect for such day plus the Applicable Margin in effect for such day.
(c) Each Canadian Prime Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Canadian Prime Rate in effect for such day plus the Applicable Margin in effect for such day.
(d) Upon acceptance of a Bankers’ Acceptance by a Lender, the Canadian Borrower shall pay to the Canadian Agent on behalf of the Lender a fee (the “Acceptance Fee”) calculated on the face amount of the Bankers’ Acceptances at a rate per annum equal to the Applicable Margin on the basis of the number of days in the Interest Period for the Bankers’ Acceptance and a year of 365 days.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 22.00%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to (x) Base Rate Loans under the relevant Facility plus 22.00% for interest due in Dollars and (y) the Canadian Prime Rate plus 2.00% for interest due in Canadian Dollars (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to (x) Base Rate Loans under the Revolving Credit Facility Facilities plus 2%2.00% for amounts due in Dollars and (y) the Canadian Prime Rate plus 2.00% for amounts due in Canadian Dollars), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(df) Interest shall be payable quarterly in arrears on each Interest Payment Date, provided provided, that interest accruing pursuant to paragraph (ce) of this Section shall be payable from time to time on demand demand.
(ig) If any provision of this Agreement or any of the other Loan Documents would obligate the Canadian Borrower to make any payment of interest with respect to the Obligations or other amount payable to the Canadian Agent or any Lender in an amount or calculated at a rate which would be prohibited by law or would result in a receipt by the Canadian Agent or such Lender of interest with respect to the Obligations at a criminal rate (as such terms are construed under the Criminal Code (Canada)) then, notwithstanding such provision, such amount or rates shall be deemed to have been adjusted with retroactive effect to the maximum amount or rate of interest, as the case may be, as would not be so prohibited by law or so result in a receipt by the Canadian Agent or such Lender of interest with respect to the Obligations at a criminal rate, such adjustment to be effected, to the extent necessary, as follows: (1) first, by reducing the amount or rates of interest required to be paid to the Canadian Agent or the affected Lender under this Section 2.16(g); and (2) thereafter, by reducing any fees, commissions, premiums and other amounts required to be paid to the Canadian Agent or the affected Lender which would constitute interest with respect to the Obligations for purposes of Section 347 of the Criminal Code (Canada). Notwithstanding the foregoing, and after giving effect to all adjustments contemplated thereby, if the Canadian Agent or any Lender shall have received an amount in excess of the maximum permitted by that section of the Criminal Code (Canada), then the Canadian Borrower shall be entitled, by notice in writing to the Canadian Agent or the affected Lender, to obtain reimbursement from the Canadian Agent or such Lender in an amount equal to such excess, and pending such reimbursement, such amount shall be deemed to be an amount payable by the Canadian Agent or such Lender to the Canadian Borrower. Any amount or rate of interest under the Obligations referred to in this Section 2.16(g) shall be determined in accordance with generally accepted actuarial practices and principles as an effective annual rate of interest over the term that any Canadian Loans remain outstanding on the same Business Day assumption that any charges, fees or expenses that fall within the meaning of “interest” (as defined in the Criminal Code (Canada)) shall, if demand is made they relate to a specific period of time, be pro-rated over that period of time and otherwise be pro-rated over the period from the Closing Date to the Revolving Credit Termination Date or the Term Loan Maturity Date, as applicable, and, in the event of a dispute, a certificate of a Fellow of the Canadian Institute of Actuaries appointed by the Administrative Canadian Agent on shall be conclusive for the purposes of such determination.
(h) For purposes of disclosure pursuant to the Interest Act (Canada), the annual rates of interest or prior fees to 11:00 a.m.which the rates of interest or fees provided in this Agreement and the other Loan Documents (and stated herein or therein, New York City time and (ii) as applicable, to be computed on the next Business Day if demand is made basis of a 360 day year or any other period of time less than a calendar year) are equivalent to the rates so determined multiplied by the Administrative Agent after 11:00 a.m.actual number of days in the applicable calendar year and divided by 360 or such other period of time, New York City timerespectively.
Appears in 2 contracts
Samples: Credit Agreement (Waste Services, Inc.), Credit Agreement (Waste Services, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest Except as otherwise expressly provided for in this subsection 4.5, interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 2 contracts
Samples: Credit Agreement (Falcon Building Products Inc), Credit Agreement (Carter William Co /Ga/)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base ABR plus the Applicable Margin.
(c) Each Foreign Currency Loan shall bear interest at a rate per annum equal to the Eurocurrency Rate in effect determined for such day plus the Applicable Margin in effect for such dayapplicable to Eurodollar Loans under the Revolving Facility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (oror (x) in the case of Foreign Currency Loans, the rate then applicable to such Loans plus 2% and (y) in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 2 contracts
Samples: Credit Agreement (Allscripts Healthcare Solutions, Inc.), Replacement Facility Amendment (Allscripts Healthcare Solutions, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan -------------------------------- shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% ---- or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a ---- portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall (to the extent permitted by applicable law) bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not ---- relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to ---- clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section -------- shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted Term SOFR determined for such day plus the Applicable Margin in effect for such daytherefor.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daytherefor.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, to the extent permitted by applicable law, bear interest at a rate per annum which is equal to the rate then otherwise applicable to Base Rate Loans under the relevant Facility thereto plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until non-payment to (but excluding) the date on which such amount is paid in full (after as well as before judgment) (or, in the event there is no applicable rate, 2.0% per annum in excess of the rate otherwise applicable to ABR Loans from time to time).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) and on the same Business Day if demand is made by Maturity Date.
(e) In connection with the use or administration of Term SOFR, the Administrative Agent on will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or prior in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the this Agreement or any other Loan Document. The Administrative Agent after 11:00 a.m., New York City timewill promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Samples: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus PLUS 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus PLUS 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the then rate then applicable to Base Rate Loans under the relevant Facility plus PLUS 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.a
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Day International Group Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and and
(ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 1 contract
Samples: Credit Agreement
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans pursuant to this Section.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans plus 2%.
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Subject to Section 2.13(c), each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted LIBO Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Subject to Section 2.13(c), each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.13 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder or under any other Loan Document shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each the Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Revolving Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Revolving Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Revolving Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Revolving Loan or Reimbursement Obligation or any commitment fee (including any unused commitment fee) or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Revolving Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular the Revolving Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Labor Ready Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such day.
(b) Each ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Alternate Base Rate for such day, plus the Applicable Margin in effect on such day.
(c) Each Prime Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Prime Rate for such day, plus the Applicable Margin in effect on such day.
(d) Each Canadian Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Canadian Base Rate for such day, plus the Applicable Margin in effect on such day.
(e) Each Multicurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurocurrency Rate determined for such day Interest Period plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan Loan, Acceptance or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 9.1 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Revolving Loans under the Revolving Credit Facility that are ABR Loans plus 2%, and (ii) if all or a any portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facilityfacility, the rate then applicable to Base Rate Revolving Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgmentthat are ABR Loans).
(dg) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cf) of this Section subsection shall be payable from time to time on demand demand.
(h) Each Money Market Rate Swing Line Loan shall bear interest during the interest period applicable thereto at a rate per annum equal to the applicable Money Market Rate; provided, that any Money Market Rate Swing Line Loan in which Lenders purchase participating interests pursuant to subsection 3.5(a) shall, from and after the date of such purchase, bear interest until the end of the interest period applicable thereto at a rate per annum equal to the Alternate Base Rate.
(i) on Each Swing Line Multicurrency Loan denominated in euros or Pound Sterling shall bear interest for each day during each Interest Period with respect thereto at the same Business Day if demand is made by Swing Line Multicurrency Rate determined for such Interest Period plus the Administrative Agent on or prior to 11:00 a.m., New York City time and Applicable Margin then in effect for Eurodollar Loans.
(iij) on Each European Swing Line Multicurrency Dollar Loan shall bear interest for each day during each Interest Period with respect thereto at the next Business Day if demand is made by Eurodollar Rate determined for such Interest Period plus the Administrative Agent after 11:00 a.m., New York City timeApplicable Margin then in effect for Eurodollar Loans.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) Each Daily Floating Eurodollar Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Daily Floating Eurodollar Rate in effect for such day plus the Applicable Margin with respect to Daily Floating Eurodollar Rate Loans in effect for such day.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(ic) Interest shall be payable in arrears on each Interest Payment Date. In the case of each ABR Loan, interest shall be payable on the Interest Payment Date with respect to the full number of calendar days of the immediately preceding month for which such ABR Loan was outstanding. On or prior to each Interest Payment Date, the Administrative Agent shall make a demand on the Interest Reserve Letter of Credit in accordance with its terms in order that on each Interest Payment Date an amount equal to the amount of the interest payable on such Interest Payment Date on the Tranche B Loans and the portion of the Tranche A Loans guaranteed by the Federal Guarantor is available for payment of such interest. The proceeds of each such drawing shall be received by the Administrative Agent in trust for the benefit of the Tranche A Lenders and Tranche B Lenders and shall be applied directly to such interest and shall not be commingled with any funds received directly from the Borrower for the payment of any other interest on the Loans.
(d) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), ) such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or determined in accordance with paragraphs (ya) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (iib) if above until such principal amount is paid in full. If all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by or acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment)ABR Loans.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 1 contract
Samples: Term Loan Agreement (Wheeling Pittsburgh Corp /De/)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Eurocurrency Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayEurocurrency Loans.
(b) Each Base Rate Loan ABR Borrowing shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayABR Loans.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityBorrowing, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the Revolving Credit Facility foregoing provisions of this paragraph (c) plus 2%)% per annum or (y) in the case of overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this Section plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) If and so long as any Lender is required to make special deposits to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any currency other than Dollars, the Administrative Agent may require the Borrower to pay, for the account of such Lender, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs as may be applicable thereto and calculated in accordance with the formula and in the manner set forth in Exhibit 2.9 hereto.
(e) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (but excluding requirements reflected in the Eurocurrency Reserve Requirements or the Mandatory Costs) in respect of any of such Lender’s Eurocurrency Loans in any currency other than Dollars, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan.
(f) Any additional interest owed pursuant to paragraph (d) or (e) above shall be determined by the Administrative Agent and notified to the Borrower in the form of a certificate setting forth such additional interest at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the Borrower by the Administrative Agent shall be payable to the Administrative Agent for the account of the respective Lender on each date on which interest is payable for such Loan.
(g) Failure or delay on the party of any Lender on any occasion to demand additional interest pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such additional interest on any subsequent occasion.
(h) Interest shall be payable in arrears on each Interest Payment Date; provided that, provided that interest accruing pursuant to paragraph (cSection 2.9(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) Each Daily Floating Rate Loan shall bear interest at a rate per annum equal to the Daily Floating Rate plus the Applicable Margin.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 2.14 shall be payable from time to time on demand demand.
(if) on the same Business Day if demand is made by The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent on have any liability with respect to the administration, submission or prior any other matter related to 11:00 a.m.the rates in the definition of “Eurodollar Base Rate” or “Daily Floating Rate” or with respect to any rate that is an alternative or replacement for or successor to any such rate (including, New York City time and (iiwithout limitation, any LIBOR Successor Rate) on or the next Business Day if demand is made by effect of any of the Administrative Agent after 11:00 a.m.foregoing, New York City timeor of any LIBOR Successor Rate Conforming Changes.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan (including the Applicable Margin) and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) pursuant to this Section.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) plus 2%.
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) Each Daily Floating Rate Loan shall bear interest at a rate per annum equal to the Daily Floating Rate plus the Applicable Margin.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.14 plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section 2.14 shall be payable from time to time on demand demand.
(if) on the same Business Day if demand is made by The Administrative Agent does not warrant, nor accept responsibility, nor shall the Administrative Agent on have any liability with respect to the administration, submission or prior any other matter related to 11:00 a.m.the rates in the definition of “Eurodollar Base Rate” or “Daily Floating Rate” or with respect to any rate that is an alternative or replacement for or successor to any such rate (including, New York City time and (iiwithout limitation, any LIBOR Successor RateBenchmark Replacement) on or the next Business Day if demand is made by effect of any of the Administrative Agent after 11:00 a.m.foregoing, New York City timeor of any LIBOR Successor RateBenchmark Replacement Conforming Changes.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue principal amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, per annum and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 22.0% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) All Reimbursement Obligations in respect of any payment under a Letter of Credit shall bear interest from and including the date on which such payment is made until such Reimbursement Obligation is paid in full. For the date on which payment is made and the first day following such date such interest will be equal to (i) in the case of Reimbursement Obligations with respect to Revolving Credit Letters of Credit, at the rate then applicable to Base Rate Loans under the Revolving Credit Facility and (ii) in the case of Reimbursement Obligations with respect to Funded Letters of Credit, the rate then applicable to Base Rate Loans under the Term Loan Facility. For the second day following the date on which payment is made and for each day thereafter until such Reimbursement Obligation is paid in full, such interest will be equal to (i) in the case of Reimbursement Obligations with respect to Revolving Credit Letters of Credit, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2.0% per annum or (ii) in the case of Reimbursement Obligations with respect to Funded Letters of Credit, the rate then applicable to Base Rate Loans under the Term Loan Facility plus 2.0% per annum.
(e) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) and (d) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, ,with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar The Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal from the date of receipt of funds under this Agreement according to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.following:
(i) From the date of receipt of funds under this Agreement until 15th June, 2021, the Borrower shall pay to the Lender for each day a fixed rate interest equal to 0.20 % per annum for the first month, increasing such rate in one (1) basis point each month up to a maximum interest rate equal to 0.25%per annum. Such interest shall be calculated on the outstanding amount of the Loan that has been not repaid and shall be paid on each Interest Payment Date.
(ii) From 16th June 2021 until the Loan and any accrued and unpaid interest is repaid in its entirety, the Loan and any accrued and unpaid interest shall bear interest at “Borrower’s Cost of Capital” as defined in this Agreement. Such interest shall be payable monthly on each Interest Payment Date. Borrower may declare and make dividends and make other distribution payments with respect to its equity securities. In the event that during a fiscal year in which all or a portion of the Loan Amount is outstanding, Borrower does not declare and make dividends on its equity securities, then Borrower may elect to suspend the interest payments to Lender provided for in this Section 1.03 and such amounts of accrued and unpaid interest shall not be subject to premium or penalty, including, without limitation, additional penalty set forth below. If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityAmount, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall hereto is not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the relevant Facility foregoing provisions of this section plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 21%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest full. Any unpaid interest on the due date in accordance with this Agreement shall be payable in arrears on each Interest Payment Date, provided that added to the Loan Amount and be included automatically for the calculation of applicable interest accruing pursuant payments due with respect to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timesubsequent monthly periods.
Appears in 1 contract
Samples: Loan Agreement (Avangrid, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise)) or an Event of Default has otherwise occurred and is continuing, such overdue amount all outstanding Loans (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder (in accordance with Section 2.4 or otherwise) shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the highest interest rate then applicable to Base Rate any Loans under the relevant Facility then outstanding plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses subsections (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)) or so long as such Event of Default is continuing.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cb) of this Section shall be payable from time to time on demand demand. Interest shall be paid on each Interest Payment Date from the portion of the Loan proceeds on deposit in the Interest Reserve Account in accordance with Section 2.18 or in such other manner as the Borrower may elect (i) on provided that if Borrower elects to pay in a manner other than by disbursement of funds from the same Business Day if demand Interest Reserve Account pursuant to Section 2.18 and such interest payment is made not timely received by the Administrative Agent on or prior to 11:00 a.m.Agent, New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeshall be entitled to withdraw amounts from the Interest Reserve Account to pay the interest due hereunder as provided in Section 2.18).
Appears in 1 contract
Samples: Credit Agreement (Wynn Resorts LTD)
Interest Rates and Payment Dates. (a) The Loans comprising each Eurodollar Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to (i) in the case of each Eurodollar Revolving Credit Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Applicable Margin and (ii) in the case of each Eurodollar Competitive Bid Loan, the Eurodollar Rate for the Interest Period in effect for such Borrowing plus the Margin offered by the Bank making such Loan and accepted by the Company pursuant to subsection 2.3.
(b) Each Eurodollar Base Rate Loan shall bear interest for each day during which such Base Rate Loan is outstanding at a rate per annum equal to the Base Rate.
(c) Each Fixed Rate Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for fixed rate of interest offered by the Bank making such day plus Loan and accepted by the Applicable Margin in effect for such dayCompany pursuant to subsection 2.3.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(id) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityii) any interest payable thereon, by acceleration any fee or otherwise), such overdue any other amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto payable pursuant to the foregoing provisions terms of this Section plus 2% or Agreement (yother than attorneys' fees incurred in connection with the enforcement of the terms hereof) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is (x) in the case of overdue principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, fee or other amounts that do not relate to a particular Facilityamount, the rate then applicable to Base Rate Loans under the Revolving Credit Facility described in paragraph (b) of this subsection plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(de) Interest on each Loan shall be payable in arrears on each Interest Payment DateDate applicable to such Loan, provided the Maturity Date and upon any prepayment of such Loan, PROVIDED that interest accruing pursuant to paragraph (cd) of this Section subsection shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Multicurrency Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided PROVIDED that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Premier Parks Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Adjusted Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If any Default shall have occurred and be continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) amounts outstanding shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions described in paragraph (b) of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of the occurrence of such nonpayment Default until such amount Default is paid in full no longer continuing (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand.
(e) For purposes of determining (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time Applicable Margin for all Loans and (ii) the Applicable Margin for the letter of credit fees referred to in Section 2.5(e), interest rates on the next Business Day if demand is made Loans and such fees shall be calculated on the basis of the Maximum Total Debt Ratio set forth in the most recent Covenant Compliance Certificate received by the Administrative Agent after 11:00 a.m.in accordance with Section 5.1(b). For accrued and unpaid interest and fees only (no changes being made for interest or fee payments previously made), New York City timechanges in interest rates on the Loans, or in such fees, attributable to changes in the Applicable Margin caused by changes in the Maximum 42 Total Debt Ratio shall be calculated upon the delivery of a Covenant Compliance Certificate, and such change shall be effective (y) in the case of a Base Rate Loan or such fees, from the first day subsequent to the last day covered by the Covenant Compliance Certificate and (z) in the case of a LIBOR Loan, from the first day of the Interest Period applicable to such LIBOR Loan subsequent to the last day covered by the Covenant Compliance Certificate. If, for any reason, the Borrower shall fail to deliver a Covenant Compliance Certificate when due in accordance with Section 5.1(b), and such failure shall continue for a period of ten days, the Revolving/Term A Leverage Level shall be deemed to be Revolving/Term A Leverage Xxxxx 0, and the Term B Leverage Level shall be deemed to be Term B Leverage Xxxxx 0, for purposes of determining the Applicable Margin on Loans or fees, as applicable, in each case retroactive to the date on which the Borrower should have delivered such Covenant Compliance Certificate and shall continue until a Covenant Compliance Certificate indicating a different Revolving/Term A Leverage Level or Term B Leverage Level, as applicable, is delivered to the Agent. Notwithstanding the foregoing, the Applicable Margin for the period from the Closing Date to and including the date on which the Agent receives the financial statements required by Section 5.1(a) with respect to the Borrower's fiscal year ending December 31, 2000, shall be Revolving/Term A Leverage Level 1 and Term B Leverage Level 1, as applicable.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at -------------------------------- a rate per annum equal to the Eurodollar Federal Funds Rate determined for such day plus the Applicable Margin Margin. In addition, during the period from December 1, 1999 to January 31, 2000, if a Lender's cost of funds exceeds the Federal Funds Rate, then the Federal Funds Rate shall be adjusted upwards in effect an amount, not to exceed 1.50% per annum, equal to the excess of such Lender's cost of funding over the Federal Funds Rate. If any Lender becomes entitled to claim any such additional amounts, it shall promptly notify the Borrowers (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled by providing a certificate setting forth in reasonable detail the basis for the claim for additional amounts, the amounts required to be paid by the Borrowers to such Lender, and the computations made by such Lender to determine the amounts; provided that such Lender shall not be required to disclose any confidential information. Failure or delay on the part of any Lender to demand compensation pursuant hereto shall not constitute a waiver of such Lender's right to demand such compensation; provided that a Lender claiming such compensation pursuant to this Section 2.7 must have made its demand for such daycompensation on or before March 15, 2000.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal Notwithstanding any provision to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
contrary contained herein, (i) If all or a portion of upon the principal amount occurrence and continuance of any Loan Event of Default specified in Section 7(e) with respect to a Borrower or Reimbursement Obligation shall not be paid when due (whether at ii) upon notice given by the stated maturity, by acceleration Administrative Agent or otherwise), such overdue amount (the Required Lenders to the extent legally permitted) Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section section 2.7(a), plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if per annum. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this section 2.7
(a) plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, per annum from the date of such nonpayment non-payment until such amount is paid in full (after before as well as before after judgment).
(dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (cb) of this Section section 2.7 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar (i) Term Benchmark Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Adjusted Term SOFR Rate determined for such day plus the Applicable Margin in effect for such day.
and (bii) Each Base Rate RFR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect Adjusted Daily Simple SOFR determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand.
(ie) on Each Swingline Loan shall bear interest at rate per annum equal to the same Business Day if demand is made ABR plus the Applicable Margin or such other rate as may be from time to time determined by mutual agreement between the Administrative Agent on or prior to 11:00 a.m., New York City time Swingline Lender and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeBorrower.
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Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(ba) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(b) Each Swing Line Loan which is a Money Market Loan or a Eurodollar Loan shall bear interest for each day on which it is outstanding prior to maturity thereof at a rate per annum equal to the applicable Money Market Rate or the rate then applicable to such Eurodollar Loan (including the Applicable Margin) and thereafter, at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) pursuant to this Section.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment). If one of the events described in Section 8(f) shall have occurred and be continuing with respect to the Borrower, or if, after giving a notice referred to in Section 2.4(b), for any other reason, as determined by the applicable Swing Line Lender in its sole discretion, Revolving Credit Loans may not be made as contemplated by Section 2.4(b), each Swing Line Loan shall bear interest until paid in full at a rate per annum equal to the rate then applicable to Base Rate Loans (including the Applicable Margin) plus 2%.
(d) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto thereto, from and including the first day thereof to but excluding the last day thereof, at a rate per annum equal to the Eurodollar LIBOR Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Margin. Interest on each LIBOR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on the last day of each Interest Payment DatePeriod applicable to such Loan, provided on the date of any prepayment or conversion (on the amount prepaid or converted) of any such Loan and at maturity; provided, however, that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand .
(i) on Each ABR Loan that is a Revolving Loan, a Non- Pro Rata Revolving Loan or a Non-Pro Rata Reserve Account Loan shall bear interest at a rate per annum equal to the same Business Day if demand ABR, from and including the date such Loan (or portion thereof) is made by or converted into an ABR Rate Loan to but excluding the Administrative Agent on date of payment or prior to 11:00 a.m., New York City time conversion into a LIBOR Loan and (ii) each ABR Loan that is a Refunding Loan shall bear interest at a rate per annum equal to the ABR plus 1.0%, from and including the date such Loan (or portion thereof) is made to but excluding the date of payment or conversion into a Revolving Loan. Interest on each ABR Loan shall be payable monthly in arrears on each Distribution Date and at maturity (each, an "ABR Interest Payment Date") for the period from and including the immediately preceding ABR Interest Payment Date to but excluding such later ABR Interest Payment Date; provided, however, that interest accruing pursuant to paragraph (c) of this Section 2.13 shall be payable on demand.
(c) If an Event of Default has occurred and is continuing, then (i) the principal amount of any Loan and (ii) to the extent permitted by applicable law, any interest payable thereon not paid on the next Business Day if demand date such interest became due (in each case with respect to clauses (i) and (ii) above, whether at the stated maturity, by acceleration or otherwise), shall bear interest at a rate per annum which is made by (x) in the Administrative Agent case of principal, the rate that would be otherwise applicable thereto pursuant to the foregoing provisions of this Section plus 1% from the date of the occurrence of such Event of Default to but excluding the earlier of the date on which such amount is paid in full and the date on which such Event of Default is no longer continuing or (y) in the case of overdue interest, the rate otherwise applicable to the Loan to which such interest relates plus 1% from the date of such non-payment to but excluding the date on which such amount is paid in full (as well after 11:00 a.m., New York City timeas before judgment).
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Eurocurrency Borrowing shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayEurocurrency Loans.
(b) Each Base Rate Loan ABR Borrowing shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayABR Loans.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityBorrowing, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to Base Rate Loans under the Revolving Credit Facility foregoing provisions of this paragraph (c) plus 2%)% per annum or (y) in the case of overdue interest, commitment fee or other amount, the rate described in paragraph (b) of this Section plus 2% per annum, in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) If and so long as any Lender is required to make special deposits to maintain reserve asset ratios or to pay fees, in each case in respect of such Lender’s Eurocurrency Loans in any currency other than Dollars, the Administrative Agent may require the Borrower to pay, for the account of such Lender, contemporaneously with each payment of interest on each of such Loans, additional interest on such Loan at a rate per annum equal to the Mandatory Costs Rate as may be applicable thereto and calculated in accordance with the formula and in the manner set forth in Schedule 1.1(D).
(e) If and so long as any Lender is required to comply with reserve assets, liquidity, cash margin or other requirements of any monetary or other authority (but excluding requirements reflected in the Eurocurrency Reserve Requirements or the Mandatory Costs Rate) in respect of any of such Lender’s Eurocurrency Loans in any currency other than Dollars, such Lender may require the Borrower to pay, contemporaneously with each payment of interest on each of such Loans subject to such requirements, additional interest on such Loan at a rate per annum specified by such Lender to be the cost to such Lender of complying with such requirements in relation to such Loan.
(f) Any additional interest owed pursuant to paragraph (d) or (e) above shall be determined by the Administrative Agent and notified to the Borrower in the form of a certificate setting forth such additional interest at least five Business Days before each date on which interest is payable for the relevant Loan, and such additional interest so notified to the Borrower by the Administrative Agent shall be payable to the Administrative Agent for the account of the respective Lender on each date on which interest is payable for such Loan.
(g) Failure or delay on the party of any Lender on any occasion to demand additional interest pursuant to this Section shall not constitute a waiver of such Lender’s right to demand such additional interest on any subsequent occasion.
(h) Interest shall be payable in arrears on each Interest Payment Date; provided that, provided that interest accruing pursuant to paragraph (cSection 2.9(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment)) and (iii) if any Significant Event of Default has occurred and is continuing, then at the election of the Administrative Agent or the Required Lenders, all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, from the date of such Significant Event of Default occurs until such time the applicable Significant Event of Default has been waived in writing by the necessary Lenders, as required pursuant to the terms of this Agreement.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand.
(ie) Each Borrower hereby agrees that accrued and unpaid interest in an amount equal to $104,625.46 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of the Third Restatement Effective Date shall be deemed accrued and continued hereunder and shall be paid in cash by the Borrowers to the Administrative Agent, for the benefit of such Revolving Credit Lenders under the Existing Credit Agreement on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedate hereof.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Serologicals Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan or portion thereof owed to any Lender other than GFC hereunder shall bear interest be a Base Rate Loan, a Federal Funds Rate Loan or a Quoted Rate Loan, as designated by MBIA pursuant to Section 2.2(a), 2.4(h) or 2.4(i); provided that no more than five (5) Quoted Rate Loans may be outstanding at -------- any one time. Any Term Loan (or portion thereof) shall be a GFC Funding Rate Loan for each day during each Interest Period with respect thereto at a rate per annum equal which such Term Loan (or such portion) is owed to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayGFC.
(b) Each MBIA agrees to pay interest in respect of the unpaid principal amount of each Base Rate Loan shall bear interest for each day from and including the day such Base Rate Loan was made to but excluding the day the principal on such Base Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which it is outstanding such Loan ceases to be a Base Rate Loan, at a rate per annum equal to the Base Rate in effect for such day Margin plus the Applicable Margin in effect for Base Rate, which interest rate shall change as and when the Base Rat e shall change. Such interest shall be payable on each successive Payment Date commencing with the first such day.
(i) If all or a portion date after the making of such Base Rate Loan and when the principal amount of any such Base Rate Loan or Reimbursement Obligation shall not be paid when is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a Base Rate Loan.
(c) MBIA agrees to pay interest in respect of the stated unpaid principal amount of each Quoted Rate Loan for each day from and including the day such Quoted Rate Loan was made to but excluding the day the principal on such Quoted Rate Loan is due (whether at maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be for each Interest Period applicable thereto pursuant to the foregoing provisions of this Section Quoted Rate Margin plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Quoted Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any for such Interest Period. Such interest shall be payable on any the last day of each Interest Period and when the principal amount of such Quoted Rate Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when is due (whether at the stated maturity, by acceleration or otherwise)) or such Loan ceases to be a Quoted Rate Loan.
(d) MBIA agrees to pay interest in respect of the unpaid principal amount of each Federal Funds Rate Loan for each day from and including the day such Federal Funds Rate Loan was made to but excluding the day the principal on such Federal Funds Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which such overdue Loan ceases to be a Federal Funds Rate Loan, at a rate PER ANNUM equal to the Federal Funds Margin plus the Federal Funds Rate, which interest rate shall change as and when the Federal Funds Rate s hall change. Such interest shall be payable on each successive Payment Date commencing with the first such date after the making of such Federal Funds Rate Loan and when the principal amount of such Federal Funds Rate Loan is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a Federal Funds Rate Loan.
(e) MBIA agrees to pay interest in respect of the unpaid principal amount of each GFC Funding Rate Loan for each day from and including the day such GFC Funding Rate Loan was made to but excluding the day the principal on such GFC Funding Rate Loan is due (whether at maturity, by acceleration or otherwise) or, if earlier, the date on which such Loan ceases to be a GFC Funding Rate Loan, AT A RATE PER ANNUM equal to the GFC Funding Rate Margin plus the GFC Funding Rate, which interest rate shall bear change as and when the GFC Funding Rate shall change. Such interest shall be payable on each successive Payment Date commencing with the first such date after the making of such GFC Funding Rate Loan and when the principal amount of such GFC Funding Loan is due (whether at maturity, by acceleration or otherwise) or such Loan ceases to be a GFC Funding Rate Loan.
(f) thereof was due to but excluding the date of actual payment, at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, i) in the case of any such other amounts that do not relate to a particular FacilityQuoted Rate Loans, until the end of the then current Interest Period, the sum of 2% plus the interest rate then otherwise applicable to such Loan, (ii) in the case of Federal Funds Rate Loans and GFC Funding Rate Loans, the sum of 2% plus the interest rate otherwise applicable to such Loan and (iii) otherwise, the sum of 2% plus the Base Rate Margin plus the Base Rate from time TO TIME IN EFFECT, WHICH INTEREST RATE SHALL change as and when the Base Rate shall change.
(g) The Agent shall DETERMINE EACH INTEREST RATE applicable to the Loans under the Revolving Credit Facility plus 2%)hereunder. The Agent shall give prompt notice to MBIA and each Lender by telex or cable of each rate of interest so determined, in each caseand its determination thereof shall be conclusive, with respect to clauses absent manifest error.
(i) and On the date a Term Loan (or portion thereof) ceases to be a GFC Funding Rate Loan, such Term Loan (or such portion) shall automatically convert into a Federal Funds Rate Loan on such date, unless MBIA shall have given the Agent written notice (i) of its election to convert such Loan into a Quoted Rate Loan at least three (3) Business Days' prior to such date or (ii) above, from the date of its election to convert such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after Loan into a Base Rate Loan not later than 11:00 a.m., New York City time, on the date on such conversion. Any such notice with respect to a Quoted Rate Loan shall specify the initial Interest Period applicable to such Quoted Rate Loan.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and and
(ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for such Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in plus the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest Except as otherwise expressly provided for in this subsection 4.5, interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 1 contract
Samples: Credit Agreement (Jostens Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBOR Adjusted Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If any Event of Default shall have occurred and be continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) amounts outstanding shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions described in paragraph (b) of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of the occurrence of such nonpayment Event of Default until such amount Event of Default is paid in full no longer continuing (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time on demand.
(e) For purposes of determining the Applicable Margin for all Loans, the letter of credit fees referred to time on demand (iin Section 2.5(e) and the commitment fee referred to in Section 2.18, interest rates on the same Business Day if demand is made Loans and such fees shall be calculated on the basis of the Maximum Total Debt Ratio set forth in the most recent Covenant Compliance Certificate received by the Administrative Agent on in accordance with Section 5.2(a) (which Certificate shall be accompanied by the relevant financial statements for such period). For accrued and unpaid interest and fees only (no changes being made for interest or prior to 11:00 a.m.fee payments previously made), New York City time and (ii) changes in interest rates on the next Loans, or in such fees, attributable to changes in the Applicable Margin caused by changes in the Maximum Total Debt Ratio set forth in the applicable Covenant Compliance Certificate shall be calculated upon the delivery of a Covenant Compliance Certificate (accompanied by such financial statements) and such change shall be effective from (and including) the day which is two Business Day if demand is made Days after receipt by the Administrative Agent after 11:00 a.m.of such Covenant Compliance Certificate and financial statements. If, New York City timefor any reason, the Borrower shall fail to deliver a Covenant Compliance Certificate and such financial statements when due in accordance with Section 5.1(a) and 5.2(a), and such failure shall continue for a period of ten days, the Applicable Margin shall be deemed to be at the highest pricing, retroactive to the date on which the Borrower should have delivered such Covenant Compliance Certificate and such financial statements and shall continue until a Covenant Compliance Certificate and financial statements indicating a different result is delivered to the Agent. Notwithstanding the foregoing, there shall be no reductions in the Applicable Margin during any period in which an Event of Default has occurred and is continuing.
Appears in 1 contract
Samples: Credit Agreement (Friendship Cable of Arkansas Inc)
Interest Rates and Payment Dates. (a) (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall -------------------------------- bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined Adjusted LIBOR for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount (other than principal) payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from and including the date of such nonpayment until amount became due to but excluding the date such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section -------- shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest during each Interest Period with respect thereto at a rate per annum equal to LIBOR determined for each day such Interest Period plus the prevailing Applicable Margin. Each ABR Loan shall bear interest during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate ABR determined for such day Interest Period plus the prevailing Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), ) such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any overdue principal, that rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.9 plus three (3%) percent per annum until the end of the Interest Period of such Loan and thereafter, at a rate per annum equal to the sum of three (3%) percent per annum plus the ABR plus the Applicable Margin from time to time in effect, computed on the basis of a 365 or 366 day year, as the case may be, or (y) in the case of overdue interest, commitment fees or other amounts that do not relate to a particular Facilitydue and payable hereunder, the rate then applicable to Base Rate Loans under ABR plus the Revolving Credit Facility Applicable Margin plus 2three (3%), ) percent per annum in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(dc) Interest on each Loan shall be payable in arrears on each Interest Payment Date with respect to such Loan and the Maturity Date, provided that interest accruing pursuant to paragraph (cSection 2.9(b) of this Section shall be payable from time to time on demand demand.
(id) Subject to the terms and conditions hereof, the Borrowers may pay interest due and payable on any Interest Payment Date that occurs during the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeCommitment Period in accordance with Section 2.2(b).
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan (other than Competitive Bid Loans) shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(c) Each Competitive Bid Loan shall bear interest for each Interest Period (if an Eurodollar Loan) or day (if an Absolute Rate Loan) with respect thereto at a rate per annum equal to the Competitive Bid Rate for such Competitive Bid Loan.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee Facility Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar LIBO Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(i) If At any time an Event of Default has occurred and is continuing, all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due outstanding Loans (whether at the stated maturity, by acceleration or otherwise), such overdue amount not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount Obligation payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate the Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%)per annum, in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(db) Interest shall be payable in arrears on each Interest Payment Date, ; provided that (i) interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on during the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m.applicability of Section 2.8(b), New York City time and (ii) in the event of any repayment or prepayment of any Loan, accrued interest on the next principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment. The Administrative Agent shall use commercially reasonable efforts to deliver an invoice 5 Business Day if demand is made by Days prior to each Interest Payment Date; provided that, the Administrative Agent after 11:00 a.m.Agent’s failure to deliver an invoice pursuant to this Section 2.8(b) shall not relieve, New York City timeexcuse or waive any of the Borrowers’ payment or other obligation under the Loan Documents.
Appears in 1 contract
Samples: Loan and Security Agreement (Benefit Street Partners Realty Trust, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar LIBOR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted LIBOR determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount (other than principal) payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Revolving Credit Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular the Revolving Credit Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from and including the date of such nonpayment until amount became due to but excluding the date such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan (including any Swingline Loan) shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the overdue principal amount of such overdue amount Loans and Reimbursement Obligations (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% Default Rate or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section (including interest on past due interest) shall be payable from time to time on demand (i) demand. For greater certainty, interest payable on any Interest Payment Date shall include interest accruing from and including the immediately prior Interest Payment Date but shall exclude any interest accruing on such Interest Payment Date, provided that interest payable on the same Business Day if demand is made by the Administrative Agent maturity date of any Loan shall include all accrued and unpaid interest as of such maturity date, including any interest accruing on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timesuch date.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Loan ABR Loan, including each Swingline Loan, shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) At the election of the Required Lenders, upon the occurrence and during the continuance of an Event of Default, (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated state maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section 2.11 plus 2% or (y) in the case of Reimbursement ObligationsObligations in respect of an L/C Disbursement, a rate equal to the rate applicable to Base Rate sum of (A) ABR plus (B) the Applicable Margin for Revolving Loans under the Revolving Credit Facility that are ABR Loans plus in each case 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount ) shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such overdue amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cSection 2.11(c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeAgent.
Appears in 1 contract
Samples: Credit Agreement (Radiation Therapy Services Holdings, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate Adjusted Term SOFR determined for such day plus the Applicable Margin in effect for such daytherefor.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding from the Closing Date or applicable Conversion Date, as the case may be, at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such daytherefor.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall shall, to the extent permitted by applicable law, bear interest at a rate per annum which is equal to the rate then 21 otherwise applicable to Base Rate Loans under the relevant Facility thereto plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until non-payment to (but excluding) the date on which such amount is paid in full (after as well as before judgment) (or, in the event there is no applicable rate, 2.0% per annum in excess of the rate otherwise applicable to ABR Loans from time to time).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) and on the same Business Day if demand is made by Maturity Date.
(e) In connection with the use or administration of Term SOFR, the Administrative Agent on will have the right to make Conforming Changes from time to time and, notwithstanding anything to the contrary herein or prior in any other Loan Document, any amendments implementing such Conforming Changes will become effective without any further action or consent of any other party to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the this Agreement or any other Loan Document. The Administrative Agent after 11:00 a.m., New York City timewill promptly notify the Borrower and the Lenders of the effectiveness of any Conforming Changes in connection with the use or administration of Term SOFR.
Appears in 1 contract
Samples: Term Loan Credit Agreement (SOUTHERN CALIFORNIA EDISON Co)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)) and (iii) if any Significant Event of Default has occurred and is continuing, then at the election of the Administrative Agent or the Required Lenders, all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, from the date of such Significant Event of Default occurs until such time the applicable Significant Event of Default has been waived in writing by the necessary Lenders, as required pursuant to the terms of this Agreement.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand demand.
(ie) Each Borrower hereby agrees that accrued and unpaid interest in an amount equal to $473,782.85 due and owing to the Revolving Credit Lenders under the Existing Credit Agreement as of the First Amendment Effective Date shall be deemed accrued and continued hereunder and shall be paid in cash by the Borrowers to the Administrative Agent, for the benefit of such Revolving Credit Lenders under the Existing Credit Agreement on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedate hereof.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin with respect thereto. Interest on each Eurocurrency Loan shall be payable in effect for the currency in which such dayEurocurrency Loan is denominated.
(b) Each Base Rate ABR Loan shall bear interest for (including, without limitation, each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permittedSwing Line Loan) shall bear interest at a rate per annum that is equal to the ABR plus the Applicable Margin with respect thereto.
(xc) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if If all or a portion of (i) any principal of any Loan, (ii) any interest payable on thereon, (iii) any Loan or Reimbursement Obligation or any commitment facility fee or (iv) any other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), the principal of the Loans and any such overdue interest, facility fee or other amount shall bear interest at a rate per annum equal which is (x) in the case of principal, the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this subsection plus 2% or (or, y) in the case of any such overdue interest, facility fee or other amounts that do not relate to a particular Facilityamount (including, without limitation, fees and commissions on Letters of Credit), the rate then which would have been applicable to Base Rate Loans under thereto if such amount were principal of a Loan denominated in the Revolving Credit Facility relevant currency (with any such amount which is denominated in Dollars being treated as if it were an ABR Loan) plus 2%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such overdue principal, interest, facility fee or other amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided Date (PROVIDED that interest accruing pursuant to paragraph (c) of this Section subsection shall be payable from time to time on demand demand) and shall be payable (iw) in the case of interest on account of Swing Line Loans, to the same Business Day if demand is made by Swing Line Lender (for its own account), (x) in the case of interest on Local European Loans, to the relevant Local Lender (for its own account), (y) in the case of interest on European Overdraft Loans, to the European Overdraft Lender (for its own account) and (z) otherwise, to the Administrative Agent (for the ratable account of the Lenders holding the obligations on or prior account of which such interest was paid).
(e) Each Local Lender hereby agrees that, in consideration of the agreement of the Revolving Credit Lenders to 11:00 a.m., New York City time and (ii) on purchase participating interests in the next Business Day if demand is Local European Loans made by it, such Local Lender shall pay to the Administrative Agent after 11:00 a.m.(for the ratable account of the Lenders) promptly upon receipt by such Local Lender of any interest payment hereunder a risk participation fee in the amount equal to (x) the Applicable Margin for Eurocurrency Loans on the average daily principal amount of its Local European Loans during the period for which payment is due MINUS (y) the amount equal to 1/8 of 1% on such average daily principal amount (which amount shall be retained by such Local Lender, New York City timefor its own account); PROVIDED, HOWEVER, that, in the event that the Revolving Credit Lenders have funded the purchase of participating interests in such Local European Loans pursuant to subsection 5.4(a), such Local Lender instead shall pay to the Administrative Agent, for the account of each Revolving Credit Lender which has so funded such purchase, the amount equal to such Revolving Credit Lender's Revolving Credit Commitment Percentage of the full amount (other than the amount equal to 1/8 of 1% PER ANNUM on the average daily principal amount on which such interest is being paid, which amount shall be retained by the relevant Local Lender as an administrative fee) of the interest paid to such Local Lender by the relevant Borrower. In addition to the foregoing amounts, the relevant Borrower also shall pay to each Lender any amounts due pursuant to subsection 7.15.
Appears in 1 contract
Samples: Credit Agreement (Hexcel Corp /De/)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the then rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the then rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Senior Secured Credit Agreement (Day International Group Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(ic) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment)full.
(d) Interest shall be payable in arrears on each Interest Payment Date, provided provided, that interest accruing pursuant to paragraph clause (c) of this Section shall be payable from time to time on demand demand.
(ie) on Notwithstanding anything to the same Business Day contrary set forth in this Section 2.13, if demand a court of competent jurisdiction determines in a final order that the rate of interest payable hereunder exceeds the highest rate of interest permissible under law (the “Maximum Lawful Rate”), then so long as the Maximum Lawful Rate would be so exceeded, the rate of interest payable hereunder shall be equal to the Maximum Lawful Rate; provided, however, that if at any time thereafter the rate of interest payable hereunder is made less than the Maximum Lawful Rate, the Borrowers shall continue to pay interest hereunder at the Maximum Lawful Rate until such time as the total interest received by the Administrative Agent on or prior Lenders is equal to 11:00 a.m.the total interest which would have been received had the interest rate payable hereunder been (but for the operation of this paragraph) the interest rate payable since the Closing Date as otherwise provided in this Agreement. Thereafter, New York City interest hereunder shall be paid at the rate of interest and in the manner provided in this Section, unless and until the rate of interest again exceeds the Maximum Lawful Rate, and at that time and (ii) on this paragraph shall again apply. In no event shall the next Business Day if demand is made total interest received by the Administrative Agent after 11:00 a.m.Lenders pursuant to the terms hereof exceed the amount which the Lenders could lawfully have received had the interest due hereunder been calculated for the full term hereof at the Maximum Lawful Rate. If, New York City timenotwithstanding the provisions of this Section 2.13(e), a court of competent jurisdiction shall finally determine that the Lenders have received interest hereunder in excess of the Maximum Lawful Rate, the Lenders shall refund any excess to the Borrowers or as a court of competent jurisdiction may otherwise order.
Appears in 1 contract
Samples: Credit Agreement (MVC Capital, Inc.)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate ABR Loan shall bear interest for each day on which that it is outstanding at a rate per annum equal to the Base ABR for such day plus the Applicable Margin in effect for such day.
(c) Each BA Equivalent Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the BA Rate in effect for such day plus the Applicable Margin in effect for such day.
(id) Each Canadian Prime Rate Loan shall bear interest for each day that it is outstanding at a rate per annum equal to the Canadian Prime Rate in effect for such day plus the Applicable Margin in effect for such day.
(e) Each XXXXX Loan shall bear interest for each day that it is outstanding at a rate per annum equal to Daily Simple XXXXX determined for such day plus the Applicable Margin in effect for such day.
(f) If all or a portion of (i) the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityLoan, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan thereon or Reimbursement Obligation or (iii) any commitment fee, letter of credit fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% which is (or, x) in the case of any such other amounts that do not relate to a particular Facilityoverdue principal, the rate then that would otherwise be applicable thereto pursuant to the relevant foregoing provisions of this Section 4.1 plus 2.00%, (y) in the case of overdue interest, the rate that would be otherwise applicable to Base Rate principal of the related Loan pursuant to the relevant foregoing provisions of this Section 4.1 (other than clause (x) above) plus 2.00% and (z) in the case of fees or other amounts, the rate described in paragraph (b) of this Section 4.1 for ABR Loans under the Revolving Credit Facility plus 22.00%), in each case, with respect to clauses (i) and (ii) above, case from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment); provided that (1) no amount shall be payable pursuant to this Section 4.1(f) to a Defaulting Lender so long as such Lender shall be a Defaulting Lender and (2) no amounts shall accrue pursuant to this Section 4.1(f) on any overdue amount or other amount payable to a Defaulting Lender so long as such Lender shall be a Defaulting Lender.
(dg) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cf) of this Section 4.1 shall be payable from time to time on demand demand.
(ih) on It is the same Business Day if demand intention of the parties hereto to comply strictly with applicable usury laws; accordingly, it is made stipulated and agreed that the aggregate of all amounts which constitute interest under applicable usury laws, whether contracted for, charged, taken, reserved, or received, in connection with the indebtedness evidenced by this Agreement or any Notes, or any other document relating or referring hereto or thereto, now or hereafter existing, shall never exceed under any circumstance whatsoever the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made maximum amount of interest allowed by the Administrative Agent after 11:00 a.m., New York City timeapplicable usury laws.
Appears in 1 contract
Samples: Credit Agreement (Hertz Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar EurodollarEurocurrency Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar EurodollarEurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect ABR determined for such day plus the Applicable Margin in effect for such dayMargin.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount ) all outstanding Loans and Reimbursement Obligations (to the extent legally permittedwhether or not overdue) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) (x) if all or a portion of any interest payable on any Dollar Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder in Dollars shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (in the case of any Reimbursement Obligations converted into Dollars on the applicable Reimbursement Date if necessary) shall bear interest at a rate per annum equal to the rate then applicable to ABR Loans plus 2% and (y) if all or a portion of any interest payable on any Foreign Currency Loan or other amount payable hereunder in any Foreign Currency shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then that would otherwise be applicable to Base Rate Foreign Currency Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) demand. If any Letters of Credit remain outstanding on the same Business Day if demand is made by Termination Date the Administrative Agent fees in respect thereof shall be payable from time to time on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (MARRIOTT VACATIONS WORLDWIDE Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for applicable to such day Eurodollar Loan plus the Applicable Margin with respect to Eurodollar Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) [Reserved]
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under (including the Revolving Credit Facility Applicable Margin) plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non‑payment until such amount is paid in full (after as well as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Term Loan Facility until the effective date of the Revolving Credit Supplement, and thereafter, the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Infinity Property & Casualty Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount all outstanding Loans and Reimbursement Obligations (whether or not overdue) (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or and (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
(i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), all such overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 22.0% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 22.0% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 22.0%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for such day plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate ABR Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day ABR plus the Applicable Margin in effect for such dayMargin.
(c) Each Overnight LIBOR Loan shall bear interest at a rate per annum equal to the Overnight LIBOR Rate plus the Applicable Margin.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loansoverdue amounts in respect of any Loan, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of overdue amounts in respect of any Reimbursement ObligationsObligation, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate ABR Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
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Samples: Credit Agreement (Tenneco Inc)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan under each Facility shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day plus the Applicable Margin in effect for such dayFacility.
(b) Each Base Rate Loan under each Facility shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin in effect for such dayFacility.
(c) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such all overdue amount (to the extent legally permitted) amounts shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) (after giving effect to any grace period in Section 10(a)), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment (after giving effect to any grace period in Section 10(a)) until such amount is paid in full (after as well as before judgment); provided that any Defaulting Lender shall not be entitled to receive any interest at the default rate of interest set forth in this clause (c) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such interest that otherwise would have been required to have been paid to that Defaulting Lender).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.demand.
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Interest Rates and Payment Dates. (a) Each Eurodollar Loan Loans shall bear interest for each day during each Interest Period with respect thereto applicable thereto, commencing on (and including) the first day of such Interest Period to, but excluding, the last day of such Interest Period, on the unpaid principal amount thereof at a rate per annum equal to the Eurodollar Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Alternate Base Rate Loan Loans shall bear interest for each day the period from and including the date such Loans are made to, but excluding, the maturity date thereof, or to, but excluding, the conversion date if such Loans are earlier converted into Eurodollar Loans on which it is outstanding the unpaid principal amount thereof at a rate per annum equal to the Alternate Base Rate in effect for such day plus the Applicable Margin in effect for such dayMargin.
(ic) If all or a portion of (i) the principal amount of any Loan of the Loans or Reimbursement Obligation (ii) any interest payable thereon shall not be paid when due (whether at the stated maturity, by acceleration or otherwise) such Loan, if a Eurodollar Loan, shall be converted into an Alternate Base Rate Loan at the end of the then-current Interest Period for said Eurodollar Loan (which conversion shall occur automatically and without need for compliance with the conditions for conversion set forth in subsection 4.2), and any such overdue amount (to shall, without limiting the extent legally permitted) shall rights of the Lenders under Section 9, bear interest (which shall be payable on demand) at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in above the case of Reimbursement Obligations, the rate applicable to Alternate Base Rate Loans under plus the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% Applicable Margin (or, in the case of any such other amounts that do not relate to a particular FacilityEurodollar Loan, the rate then applicable to Base Eurodollar Rate Loans under for the Revolving Credit Facility Interest Period plus the Applicable Margin plus 2%), in each case, with respect to clauses (iif higher) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well after as before judgment).
(d) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to paragraph (c) of this Section shall be payable from time to time on demand (i) Date and on the same Business Day if demand is made by date of payment in full of the Administrative Agent respective Loans and in the case of the Revolving Loans on or prior to 11:00 a.m., New York City time and (ii) on date of termination of the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timeRevolving Commitments.
Appears in 1 contract
Samples: Credit Agreement (CSK Auto Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Term SOFR Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Rate determined for Term SOFR applicable to such day Term SOFR Loan plus the Applicable Margin with respect to Term SOFR Loans in effect for such day.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Rate in effect for such day plus the Applicable Margin with respect to Base Rate Loans in effect for such day.
(c) Each Term SOFR Daily Floating Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Term SOFR Daily Floating Rate in effect for such day plus the Applicable Margin with respect to Term SOFR Daily Floating Rate Loans in effect for such day.
(d) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount all outstanding Loans (to whether or not overdue)(to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee or other amount payable hereunder shall not be paid when due (whether at the stated maturityStated Maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under (including the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility Applicable Margin) plus 2%), in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment non-payment until such amount is paid in full (after as well as before judgment).
(de) Interest shall be payable in arrears on each Interest Payment Date, ; provided that interest accruing pursuant to paragraph (cd) of this Section shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
Appears in 1 contract
Samples: Credit Agreement (Northwestern Corp)
Interest Rates and Payment Dates. (a) Each Eurodollar Eurocurrency Loan that is a Multicurrency Loan or a Domestic Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to the Eurodollar Eurocurrency Rate determined for such day Interest Period plus the Applicable Margin in effect for such dayMargin.
(b) Each Base Rate Eurocurrency Competitive Loan shall bear interest for each day on which it is outstanding at a rate per annum equal to the Base Eurocurrency Rate in effect for applicable to such day Loan plus (or minus, as applicable) the Margin.
(c) Each ABR Loan shall bear interest at a rate per annum equal to the ABR plus the Applicable Margin in effect for such dayMargin.
(d) Each Fixed Rate Loan shall bear interest at the fixed rate applicable to such Loan.
(e) Each Money Market Rate Loan shall bear interest during the Interest Period applicable thereto at a rate per annum equal to the Money Market Rate applicable to such Loan.
(f) (i) If all or a portion of the principal amount of any Loan or Reimbursement Obligation shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (to the extent legally permitted) shall bear interest at a rate per annum that is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section plus 2% per annum or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate ABR Loans under the Revolving Credit Facility plus 2%% per annum, and (ii) if all or a portion of any interest payable on any Loan or Reimbursement Obligation or any commitment fee Facility Fee or other amount Letter of Credit Fee payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount (in the case of any Reimbursement Obligations denominated in an Optional Currency, converted into Dollars on the applicable Reimbursement Date if necessary) shall bear interest at a rate per annum equal to the rate then applicable to Base Rate Loans under the relevant Facility plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%)ABR Loans, in each case, with respect to clauses (i) and (ii) above, from the date of such nonpayment until such amount is paid in full (after as well after as before judgment).
(dg) Interest shall be payable in arrears on each Interest Payment Date, provided provided, that interest accruing pursuant to paragraph (cSection 2.15(f) of this Section shall be payable from time to time on demand demand.
(ih) on All interest hereunder shall be paid in the same Business Day if demand Currency in which the Loan giving rise to such interest is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City time.denominated. 509265-1725-08888-13316466 50
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Interest Rates and Payment Dates. (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto -------------------------------- at a rate per annum equal to the Eurodollar Federal Funds Rate determined for such day plus the Applicable Margin Margin. In addition, during the period from December 1, 1999 to January 31, 2000, if a Lender's cost of funds exceeds the Federal Funds Rate, then the Federal Funds Rate shall be adjusted upwards in effect an amount, not to exceed 1.50% per annum, equal to the excess of such Xxxxxx's cost of funding over the Federal Funds Rate. If any Lender becomes entitled to claim any such additional amounts, it shall promptly notify the Borrowers (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled by providing a certificate setting forth in reasonable detail the basis for the claim for additional amounts, the amounts required to be paid by the Borrowers to such Lender, and the computations made by such Lender to determine the amounts; provided that such Lender shall not be required to disclose any confidential information. Failure or delay on the part of any Lender to demand compensation pursuant hereto shall not constitute a waiver of such Xxxxxx's right to demand such compensation; provided that a Lender claiming such compensation pursuant to this Section 2.7 must have made its demand for such daycompensation on or before March 15, 2000.
(b) Each Base Rate Loan shall bear interest for each day on which it is outstanding at a rate per annum equal Notwithstanding any provision to the Base Rate in effect for such day plus the Applicable Margin in effect for such day.
contrary contained herein, (i) If all or a portion of upon the principal amount occurrence and continuance of any Loan Event of Default specified in Section 7(e) with respect to a Borrower or Reimbursement Obligation shall not be paid when due (whether at ii) upon notice given by the stated maturity, by acceleration Administrative Agent or otherwise), such overdue amount (the Required Lenders to the extent legally permitted) Borrower of any other Event of Default, all Loans outstanding to such Borrower shall bear interest at a rate per annum that which is equal to (x) in the case of the Loans, the rate that would otherwise be applicable thereto pursuant to the foregoing provisions of this Section section 2.7(a), plus 2% or (y) in the case of Reimbursement Obligations, the rate applicable to Base Rate Loans under the Revolving Credit Facility plus 2%, and (ii) if per annum. If all or a portion of (i) the principal amount of any Loan, (ii) any interest payable on thereon or (iii) any Loan or Reimbursement Obligation or any commitment fee Commitment Fee or other amount payable hereunder shall not be paid when due (whether at the stated maturity, by acceleration or otherwise), such overdue amount shall bear interest at a rate per annum equal which is the rate that would otherwise be applicable thereto pursuant to the rate then applicable to Base Rate Loans under the relevant Facility foregoing provisions of this section 2.7
(a) plus 2% (or, in the case of any such other amounts that do not relate to a particular Facility, the rate then applicable to Base Rate Loans under the Revolving Credit Facility plus 2%), in each case, with respect to clauses (i) and (ii) above, per annum from the date of such nonpayment non-payment until such amount is paid in full (after before as well as before after judgment).
(dc) Interest shall be payable in arrears on each Interest Payment Date, provided that interest accruing pursuant to the second sentence of -------- paragraph (cb) of this Section section 2.7 shall be payable from time to time on demand (i) on the same Business Day if demand is made by the Administrative Agent on or prior to 11:00 a.m., New York City time and (ii) on the next Business Day if demand is made by the Administrative Agent after 11:00 a.m., New York City timedemand.
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